Africa's largest company Naspers to increase exposure to US tech startups

Bob van Dijk, CEO, Naspers

Naspers Ltd. plans to increase its exposure to U.S. technology startups as Africa’s biggest company by market value seeks to limit the impact of a U.S. interest-rate rise and identify new Internet growth prospects, Chief Executive Officer Bob van Dijk said.

The company invested $100 million in September in Letgo, a U.S. mobile-only classifieds-ads application, and plans further spending on companies based around San Francisco, the CEO said in an interview on Nov. 28. Naspers could base “a number of investment professionals” in the Bay Area to identify the right deals, he said.

Read more: Africa’s Largest Company Expands in U.S. as Fed Mulls Rate Rise – Bloomberg Business